A stimulus check appears to be crucial for Social Security recipients as most adults suffer from rising inflation. The modest rise in the cost of living from their Social Security income for this year has been absolutely insufficient to match the rising costs of everything from gasoline to hamburgers in the second half of the year.
Some seniors have also pushed for more help from the federal government. This begs the question – is the fourth payment even in the works for Social Security recipients – despite the increasing need for it?
Stimulus Control for Social Security Recipients?
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The impartial Senior Citizens League has been reported to have called on Congress to issue a fourth $1,400 stimulus check to Social Security recipients by the end of 2021. About 75,000 people have already signed up for the petition in support of the additional benefit. As reported by the competition analyst for Medicare policy and Social Security, Mary Johnson, the additional funds are needed to offset the much meager adjustment of the cost of living to Social Security benefits for 2021.
The main factors influencing the cost-of-living adjustments have been rising costs and inflation — exactly why a new stimulus check payment is extremely necessary. Every October, the Social Security Administration updates the annual payment based on the events that occur with the CPI-W in July, August, and September.
The fourth $600 incentive check is currently only being delivered to farm workers, meat processors and store employees — who have been hit hardest by the COVID-19 outbreak. The US bailout plan has earmarked $700 million to help several workers in a large number of companies.
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